-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VsXUB2xpmvUzKEootXHcn49WOT2NHicHko+PJ0MQ0+e30sVJtzDYGSnbgagahOt4 Db8qGLFVDUxJOO7VwStBIQ== 0000910117-99-000060.txt : 19990426 0000910117-99-000060.hdr.sgml : 19990426 ACCESSION NUMBER: 0000910117-99-000060 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19981231 FILED AS OF DATE: 19990423 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTENNIAL BANCORP CENTRAL INDEX KEY: 0000702430 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 930792841 STATE OF INCORPORATION: OR FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: SEC FILE NUMBER: 000-10489 FILM NUMBER: 99599361 BUSINESS ADDRESS: STREET 1: 675 OAK ST CITY: EUGENE STATE: OR ZIP: 97401 BUSINESS PHONE: 5033423970 MAIL ADDRESS: STREET 1: 675 OAK STREET CITY: EUGENE STATE: OR ZIP: 97401 FORMER COMPANY: FORMER CONFORMED NAME: VALLEY WEST BANCORP DATE OF NAME CHANGE: 19900812 10-K/A 1 AMENDMENT NO. 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K/A This Amendment No. 1 is submitted to amend the amount included as "Proceeds from sales of mortgage loans" for the year ended December 31, 1998 in the Consolidated Statement of Cash Flows on page 8 of Exhibit 13.1, Portions of 1998 Annual Report, filed as part of Registrant's Form 10-K for the fiscal year ended December 31, 1998. [ X ] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 1998 or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to __________ Commission file Number: 0-10489 CENTENNIAL BANCORP (Name of registrant as specified in its charter) Oregon 93-0792841 (State of incorporation) (I.R.S. Employer Identification No.) 675 Oak Street Eugene, Oregon 97401 (Address of principal executive offices) Registrant's telephone number: (541) 342-3970 Securities registered under Section 12(b) of the Exchange Act: None Securities registered under Section12(g) of the Exchange Act: Common Stock, without par value (Title of class) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes /X/ No / / Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [ ] State the aggregate market value of the voting stock held by non-affiliates of the registrant. The aggregate market value shall be computed by reference to the price at which the stock was sold, or the average bid and asked prices of such stock, as of a specified date within 60 days prior to the date of filing. $196,499,637 aggregate market value as of March 9, 1999, based on the price at which the stock was sold. Indicate the number of shares outstanding of each of the registrant's classes of common stock, as of the latest practicable date: 16,937,600 shares of Common Stock on March 9, 1999. DOCUMENTS INCORPORATED BY REFERENCE Part I and Part II incorporate information by reference from the issuer's Annual Report to Shareholders for the fiscal year ended December 31, 1998. Part III is incorporated by reference from the issuer's definitive proxy statement for the annual meeting of shareholders to be held on May 19, 1999. CONSOLIDATED STATEMENTS OF CASH FLOWS
Years ended December 31, 1998 1997 1996 ----------- ----------- ----------- CASH FLOWS FROM OPERATING ACTIVITIES: Net income $11,434,546 $ 9,303,363 $ 6,514,288 Adjustments to reconcile net income to net cash provided by operating activities: Net gains on sales of securities and mortgage loans (2,352,391) (1,076,784) (629,835) Stock dividends on Federal Home Loan Bank stock (372,600) (345,300) (325,400) Loan loss provision 1,500,000 1,250,000 735,000 Deferred income taxes (437,882) (113,702) (310,024) Depreciation and amortization 1,697,578 1,329,421 1,167,936 Originations of mortgage loans held for sale (213,853,812) (111,645,075) (67,258,899) Proceeds from sales of mortgage loans 210,152,220 110,506,192 68,853,519 Changes in assets and liabilities: Accrued interest and other assets (1,335,735) 302,160 (1,329,999) Accrued interest and other liabilities 101,196 (230,165) 1,454,091 ----------- -------------------- ----------- Net cash provided by operating activities 6,533,120 9,280,110 8,870,677 CASH FLOWS FROM INVESTING ACTIVITIES: Securities available-for-sale: Purchases (31,984,219) (28,385,904) (22,037,443) Maturities 27,624,797 8,009,362 4,968,520 Proceeds from sales 11,754,232 20,463,409 6,302,328 Loan originations, net (86,333,031) (70,449,408) (78,574,452) Purchases of premises and equipment, net (3,558,652) (2,373,818) (1,134,394) ---------- ---------- ---------- Net cash used in investing activities (82,496,873) (72,736,359) (90,475,441) CASH FLOWS FROM FINANCING ACTIVITIES: Net increase in deposits 64,584,212 79,326,839 72,074,953 Increase (decrease) in short-term borrowings, net 12,884,288 (4,599,800) 896,460 Proceeds from issuance of long-term debt -- -- 10,000,000 Payments on long-term debt (10,000,000) -- (37,000) Proceeds from exercise of stock options 267,381 400,944 346,397 ----------- ----------- ----------- Net cash provided by financing activities 67,735,881 75,127,983 83,280,810 ----------- ----------- ----------- Net increase (decrease) in cash and cash equivalents (8,227,872) 11,671,734 1,676,046 Cash and cash equivalents at beginning of year 50,069,239 38,397,505 36,721,459 ----------- ----------- ----------- Cash and cash equivalents at end of year $41,841,367 $50,069,239 $38,397,505 =========== =========== ===========
8 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Amendment No. 1 to be signed on its behalf by the undersigned thereunto duly authorized. CENTENNIAL BANCORP DATED: April 22, 1999 By /s/ Michael J. Nysingh ---- ------------------------------------ Michael J. Nysingh Chief Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----